In today’s fast-paced world of cryptocurrency trading where every second matters for a trader, the role of AI (Artificial Intelligence) cannot be overstated. Isn’t it? Well, the global AI trading bot market was valued at 21.69 million US dollars in 2022 and it is expected to reach around 145 million USD by 2029, witnessing huge growth during the forecast period 2023-2029. Additionally, with the growing complexity and the volatility of the crypto trading market where every second counts, there is a significant increase in the AI trading bots sector.
Today, traders are dependent on AI-driven algorithmic trading to analyze the market and manage their portfolios in real-time. This way they can perform trading and execute deals quickly. AI trading bots can be adjusted according to market price movements. These bots help crypto traders take advantage of growing market opportunities and control risks due to round-the-click market movements. The best crypto trading bot, Growlonix offers the best opportunities of trading crypto via AI trading bot tools in 2024. From arbitrage trading bots to AI bots, there are many different types of bots to pick from.
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Major trends influencing the growth of AI bots
The increased volatility of the crypto trading market is the major factor behind the development of the AI trading bots sector. The frequent changes in market data make it difficult for crypto traders to trade manually. And, making use of trading bots with AI capabilities provide sophisticated solutions to traders by evaluating data, watching market trends, and executing trades automatically in real-time. Moreover, the efficiency and increased speed of algorithmic trading is fueling up the development of AI bots.
AI bots are the best crypto trading bots that use machine learning algorithms that improve the accuracy of trading options in the market. This way, it helps traders to manage risks efficiently. The incorporation of multiple risk management tools and portfolio diversification techniques has also fueled the use of AI bots.
Additionally, the security features, user-friendly interfaces, and use of advanced orders like OCO orders, bracket orders, etc. in these bots make it quite appealing to novices and seasoned traders. The effectiveness, data-driven decision-making feature, and speed are the major features of these bots that have fueled up the use of AI bots in the market.
Growlonix crypto trading terminal
Growlonix is one of the best crypto trading terminals that ensures to deliver excellence in the field of cryptocurrency trading among novice as well as expert traders. The platform makes use of AI bots to help traders trade smartly without any manual errors. Standard features for those new to crypto trading bots include social trading, signal trading, automatic trading, and more. Whether you want to copy the trade of expert traders, or let your trader trade based on the current market data, we are here to help you out.
The platform also allows you to set different orders like trailing orders, take profit, and more based on the market data. For professional traders, this is one of the best platforms for an AI trading bot trading.
How AI trading bots work?
AI bots are nothing more than computer programs designed to execute multiple strategies automatically. These bots work in a smarter way, let’s have a look at their working:
- Data analysis
Firstly, AI bots look at the historical and current market data which include market price movements, economic indicators, trade volumes, etc. All this forms the base for trading decisions.
- Decision making
Traders are required to set some predefined rules or strategies on the bot. Based on these strategies, the bot will analyze the pattern and determine when to buy or sell. These bots are smart enough that they can execute complex strategies easily.
- Pattern recognition and risk management
Trading bots help in identifying recurring patterns and trends. These bots also allow you to define multiple parameters as per your risk tolerance.
- Automation and back testing
These bots can execute trades automatically and respond to changes in market price movement in real-time. This way you won’t miss any important trades. AI bots are equipped with back testing feature. It can simulate your strategies based on historical data.
AI bots work on algorithms and they can analyze huge data, identify patterns, and place trades that may be missed by human traders. These bots are smart and enhance decision-making speed while improving the accuracy of trades. Firstly, the bot incorporates its take profit as well as the stop loss target, enabling it to maximize the profit potential while minimizing the risk factors.
Other major AI trading bots gaining popularity among traders
Apart from Growlonix, let’s have a look at some popular AI bots that will help traders to maximize their earnings more smartly:
1.Bitsgap
2.ByBit
3.Kryll
4.CoinRule
5.Octobot
6.Wundertrading
7.Cryptohopper
AI bots are very useful and safe for trading delivering high returns. Traders should consider which strategies they want to use and how much money they want to invest in these bots.
Case Study – The success story of AI in crypto trading
Traders are already experiencing the benefits of AI in crypto trading. Traders on Growlonix are using AI in trading and gaining a competitive edge by leveraging the platform’s real-time data analysis, advanced algorithms, etc. Here is the success story of a trader Sophie who has profited from AI-driven trading on our platform.
Sophie is a marketing professional and she has harnessed the power of AI trading bots. Guided by AI algorithms, she has executed precision trades leading to a remarkable 20% increase in her portfolio value.
Conclusion
AI trading bots are powerful tools extremely useful for streamlining the trading process. Growlonix and other trading platforms provide AI-powered insights while automating the trades.
The best AI trading bots can assist traders in minimizing risks, increasing profits, and identifying more trading opportunities. These bots are equipped with a variety of features and trading strategies.
